Atria Investments Inc Sells 2,564 Shares of SBA Communications Co. (NASDAQ:SBAC)

Atria Investments Inc lessened its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 39.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,968 shares of the technology company's stock after selling 2,564 shares during the quarter. Atria Investments Inc's holdings in SBA Communications were worth $809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC raised its stake in SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank increased its stake in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after acquiring an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock worth $60,495,000 after acquiring an additional 249,610 shares during the last quarter. First Hawaiian Bank increased its stake in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company's stock worth $100,351,000 after purchasing an additional 241,916 shares during the period. Institutional investors own 97.35% of the company's stock.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $214.56 on Friday. The stock has a 50-day simple moving average of $206.87 and a 200-day simple moving average of $220.44. The stock has a market cap of $23.09 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, March 13th. SBA Communications's dividend payout ratio is currently 63.98%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBAC. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective on the stock. Barclays decreased their price objective on SBA Communications from $254.00 to $240.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. BMO Capital Markets restated a "market perform" rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Finally, StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and an average price target of $252.54.

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About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

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